Zurn Elkay Water Solutions Cor (NYSE:ZWS) Rating Lowered to “Hold” at Zacks Research

Zurn Elkay Water Solutions Cor (NYSE:ZWS) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks reports.

ZWS has been the subject of a number of other reports. Stifel Nicolaus boosted their target price on shares of Zurn Elkay Water Solutions Cor from $56.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Barclays raised their price target on shares of Zurn Elkay Water Solutions Cor from $59.00 to $61.00 and gave the company an “overweight” rating in a report on Friday, July 31st. The Goldman Sachs Group restated a “neutral” rating and issued a $55.00 price target on shares of Zurn Elkay Water Solutions Cor in a report on Wednesday, July 29th. Royal Bank Of Canada cut their price objective on shares of Zurn Elkay Water Solutions Cor from $58.00 to $54.00 and set a “sector perform” rating on the stock in a research report on Wednesday, October 14th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Friday, July 24th. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $57.00.

Zurn Elkay Water Solutions Cor Trading Up 1.4%

ZWS opened at $48.37 on Tuesday. The company has a current ratio of 3.05, a quick ratio of 2.13 and a debt-to-equity ratio of 0.30. The firm has a market cap of $8.02 billion, a price-to-earnings ratio of 28.07, a PEG ratio of 1.74 and a beta of 1.07. Zurn Elkay Water Solutions Cor has a 12 month low of $43.06 and a 12 month high of $55.00. The stock has a fifty day moving average price of $47.48 and a 200-day moving average price of $48.48.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last issued its quarterly earnings data on Tuesday, July 28th. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03. Zurn Elkay Water Solutions Cor had a return on equity of 18.01% and a net margin of 15.45%. The firm had revenue of $491.00 million during the quarter, compared to analysts’ expectations of $483.04 million. During the same period in the prior year, the business posted $0.42 EPS. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. As a group, equities research analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.83 earnings per share for the current fiscal year.

Insider Buying and Selling at Zurn Elkay Water Solutions Cor

In other Zurn Elkay Water Solutions Cor news, Director Jacques Butler acquired 2,016 shares of the stock in a transaction dated Wednesday, August 19th. The stock was purchased at an average price of $49.60 per share, with a total value of $99,993.60. Following the transaction, the director directly owned 37,487 shares of the company’s stock, valued at $1,859,355.20. This trade represents a 5.68% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in Zurn Elkay Water Solutions Cor in the second quarter valued at about $1,241,345,000. Bank of America Corp DE acquired a new stake in Zurn Elkay Water Solutions Cor in the second quarter worth about $278,160,000. Jupiter Topco LLC acquired a new stake in Zurn Elkay Water Solutions Cor in the second quarter worth about $172,287,000. Bank of New York Mellon Corp purchased a new stake in shares of Zurn Elkay Water Solutions Cor during the second quarter worth about $55,207,000. Finally, Legal & General Group Plc purchased a new stake in shares of Zurn Elkay Water Solutions Cor during the second quarter worth about $40,264,000. 83.33% of the stock is owned by institutional investors and hedge funds.

About Zurn Elkay Water Solutions Cor

Zurn Elkay Water Solutions Corporation (NYSE: ZWS) is a manufacturer of products and systems used to manage, conserve and protect water in commercial, institutional, industrial and residential buildings. The company provides plumbing and water-management solutions designed to support water distribution, drainage, safety, hygiene and efficiency.

Its product portfolio includes commercial faucets, flush valves, fixtures, drains, plumbing specialties, backflow-prevention devices, water coolers, bottle-filling stations, water filtration systems and related accessories.